The US market indices are fascinating. Whether it be the New York Stock Exchange Composite Index or the S&P500 index, they are one giant melting pot of stocks. Because they are a melting pot, they tend to move and react much slower than any individual stock would. This would seem to be an obvious point, … Read more
The market has been on a tear lately, but now we are coming into the seasonal months that have been traditionally somewhat lackluster in terms of upside. The market is consolidating now and may continue to consolidate sideways, however there are signs that the market could take another option which is the more bearish sell … Read more
The Russell 2000 ETF IWM could be sending a near term signal out that it eventually wants to break the 3/6/2012 swing low and head into a deeper correction. The market in general appears to be in a near term consolidation phase after the recent relentless huge run up the last several months. There are … Read more
Authors Note: This was originally posted on 13 January 2012 and is being included here to update the BOT archives. Best Online Trades did another cup with handle pattern scan several days ago around January 10th, 2012 and SMSI came up in the scan. SMSI is Smith Micro Software. By first appearances SMSI looks like … Read more
Natural Gas Futures appear to be diving into a death spiral from a technical analysis stand point. There is no cup and handle pattern on natural gas futures but one cannot help notice what could be a double bottom formation coming by the end of this month. If natural gas is still in a bull … Read more
Authors Note: This posting was done on 24th January 2012 and is being re-posted to update the BOT archives. A chart scan was done on over 7000 stocks on the NYSE, Nasdaq and Sp500 exchanges including a scan on most popular ETFs and one stock that came up in the scan is END. End is … Read more
The stock markets as represented by the Dow Jones Industrial Average and the Standard and Poor’s 500 Index so far in 2012 have advanced higher but I would not call it a supercharged advance by any means. The advance has been slow and steady on very light volume and downside price action has been slight. … Read more
DOLE food company may be a boring food and fruit company but the chart currently may have some promise as it appears it is forming a cup with handle formation and may be good for a trade with target percent of 10 to 20%. The cup with handle pattern on DOLE has formed after a … Read more
The market is so strong at the current juncture that it will barely allow a multi day decline to correct the overbought readings. The near term very bearish observation I made yesterday was apparently not meant to be. Even the high volume bearish engulfing we saw on the Nasdaq 100 Index does not seem to … Read more
Based on my read of the tape today, the still valid Bearish Gartley Butterfly Pattern in the XLF ETF and a mix of other important factors such as market breadth, I have to conclude that the near term state of the market is very bearish outlook. I think we are building up to a scenario … Read more